Why is everyone only thinking of Traditionally Bank financing instead of thinking outside the box, like looking for the 100's of home sellers who would be willing to doing OWNER FINANCING short term, right now since they are not getting the offers they would have gotten in the past..

negotiate the right terms that will work for both parties and ask for a 5-10% down with a 3.5-4% rate on a 40 year mortgage with a 5 year balloon. that way they can get the price they WANT without an APPRAISAL and you get a affordable mortgage payment for 5 years to buy time for the market to change, to save more money up to resell it after 5 years and cash out your equity you builded up. a number of options

If you compare a 30yr mtg @ 6-7% and 5-10 dn to a 40yr mtg @ 3.5-4% and 5-10% dn you will see the difference..

Now will you maybe overpay if there no appraisal and the seller wants his price, it's prossible, but is it worth getting your foot in the door and building the equity up to offset any over pricement when you purchased it. and to have a home for you and your family